In response to the failure of President Clinton to gain the necessary support in Congress to pass fast track trade negotiating authority, Sen. Chuck Grassley issued the following statement:<P> <I>"The United States has the most to gain by leading and the most to lose by sitting on the sidelines when it comes to international trade. The question is not whether future trade negotiations will occur. They are happening right now between countries all over the world. In fact, in April President Clinton will be going to a meeting in Santiago, Chile, regarding a free trade zone for the Americas. If he goes to the meeting without fast track authority, his ability to negotiate will be diminished.<P> "Free trade creates stable, high-paying jobs. Exports already support more than 11 million jobs in this country, and each billion dollars in exports creates 18,000 additional jobs. This trade negotiating authority is important to Iowa because it helps create markets for Iowa's value-added agriculture and manufactured products.<P> "The president may have waited too long to introduce the fast track legislation. In January, I urged the president to introduce his legislation as soon as possible. Much like a college student cramming for a final, the president chose to put off until the last minute the hard work of convincing Congress and the American people of the benefits of having this authority. The fact that he doesn't have that authority right now is indicative of how this strategy's effectiveness.<P> "I hope the president will be able to convince a few more members of his own party to support his position, so we can pass fast track legislation next year. This negotiating authority is important for expanding the U.S. economy and spreading democracy around the world."